Stratview Research has published a new report titled “Telemedicine Market” which is segmented By Service (Tele-consulting, Tele-monitoring, Tele-education/training), By Type (Tele-hospital, Tele-home), By Specialty (Cardiology, Gynecology, Neurology, Orthopedics, Dermatology, Mental health, Others), and By Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market was expected to grow from USD 71.2 Billion in 2021 and is likely to grow at a CAGR of 19.1% during 2022-2028 to reach USD 242.02 Billion by 2028.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
The Tele-Hospital segment witnessed the largest market share of more than 50% in 2021 and is likely to register a healthy CAGR during the review period.
The global telemedicine market has been segmented into Tele-home and Tele-hospital. Due to the reduction in healthcare costs and time, the adoption of telemedicine services in hospitals will increase demand because of government funding and grants.
By Service Type
The Tele-Consulting segment witnessed the largest market share of almost 40% in 2021 and is likely to register a healthy CAGR during the review period.
The global telemedicine market has been segmented into tele-consulting, telemonitoring, and tele-education/training. This is mainly ascribed rising growth of tele-consulting services due to a large number of self-quarantined populations at home during the COVID-19 pandemic, thereby bolstering the segment growth.
Which Region is expected to remain the largest market?
The North American market accounted for the largest market share of more than 33% in 2021 and is estimated to grow at a steady CAGR during the forecast timeline.
This can be attributed to the rising prevalence of chronic and lifestyle-associated diseases, the growing geriatric population, and increasing government funding and grants for telemedicine thereby proliferating the industry growth in the region.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players acting in the Telemedicine Market:
- Allscripts Healthcare Solutions Inc. (The U.S)
- AMD Global Telemedicine (The U.S)
- American Well (The U.S)
- BioTelemetry (The U.S)
- Blue Sky Telehealth (The U.S)
- Cerner Corporation (The U.S)
- Cisco Systems (The U.S)
- Eagle Telemedicine (The U.S)
- Honeywell International Inc. (The U.S)
- InSight (The U.S)
Key questions answered by the report
- What is the projected CAGR for revenue from the Telemedicine Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Telemedicine Market?
- Which are the major market players?
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